Oct 25, 2012 --- Nearly
four in 10 adults say they are “not too” or “not at all” confident they will
have enough income and assets for retirement. ---
This figure, from a Pew
Research Center study, is up from 25% in a report from late February and
March of 2009. An analysis of both surveys also shows that concerns about
retirement financing are now more heavily concentrated among younger and
middle-age adults than those closer to retirement age—a major shift in the
pattern that had prevailed at the end of the recession.
Among adults between ages 36 and 40, 53% say they are either
“not too” or “not at all” confident that their income and assets with last
through retirement. In contrast, only one-third (34%) of those ages 60 to 64
express similar concerns, as do 27% of 18- to 22-year-olds.
In 2009, it was Baby Boomers between ages 51 and 55 who were
the most concerned. Only 18% of those 36 to 40 years old were worried they
would fall short financially after they retire—one-third of the share who
express a similar concern today.
There are also differences among demographic groups, the
poll found. College graduates are much more likely than those who have a high
school diploma or less to express confidence in their retirement finances (71%
vs. 53%). Among those who attended college but do not have a bachelor’s degree,
six-in-10 are sure that they will be financially prepared for retirement.
Those with household incomes of $100,000 or more also are
significantly more confident than those earning less than $50,000 that they
will have the financial resources to live on in retirement (79% vs. 51%).